Inflation in Germany hits double digits for the first time since WWII

mm2543363580

full member

Activity: 952

Merit: 105

Quote from: goaldigger on October 22, 2022, 04:19:10 PM

Quote from: ?? on ??

Quote from: Gyfts on October 15, 2022, 12:06:37 AM

Well, it's also true that every nation in the world essentially shut down their economy and started printing money so it isn't unsurprising that there isn't a single country spared from inflation.

it's not only the Germany - but the whole world is suffering
during these troublesome days best are those who found out the way and strived to gain financial independence there is no other way out of the inflation but to seek financial independence

There are still some country who are doin well on controlling their inflation rate despite of what happened with them during the pandemic, maybe they planned better and their economy is really that strong. The inflation rate of many countries in Europe continues to increase and that is because of many circumstances, i think the ward between Ukraine and Russia plays a huge role with that inflation, they started to experience worst when they make sanctions against Russia. It will take years before the inflation goes down, but I know Germany can overcome that rate because they are a big country as well.

I would say that they still have a portion in the future and that's making a lot of doubts these days because we're in a bear market.

sovie

sr. member

Activity: 1274

Merit: 265

Quote from: goaldigger on October 22, 2022, 04:19:10 PM

Quote from: ?? on ??

Quote from: Gyfts on October 15, 2022, 12:06:37 AM

Well, it's also true that every nation in the world essentially shut down their economy and started printing money so it isn't unsurprising that there isn't a single country spared from inflation.

it's not only the Germany - but the whole world is suffering
during these troublesome days best are those who found out the way and strived to gain financial independence there is no other way out of the inflation but to seek financial independence

There are still some country who are doin well on controlling their inflation rate despite of what happened with them during the pandemic, maybe they planned better and their economy is really that strong. The inflation rate of many countries in Europe continues to increase and that is because of many circumstances, i think the ward between Ukraine and Russia plays a huge role with that inflation, they started to experience worst when they make sanctions against Russia. It will take years before the inflation goes down, but I know Germany can overcome that rate because they are a big country as well.

it is said that Russian have done a lot of damage to the ukraine and the people are starving there
I am not sure if that is true because a girl from ukraine told me this

bitgov

sr. member

Activity: 1554

Merit: 260

Quote from: mindrust on October 16, 2022, 12:35:34 AM

When country A sanctions country B, country A effectively sanctions itself especially if country B has something country A desperately needs.

That's exactly the situation here. What does Russia need from Europe? Nothing. Russia only wants to sell their oil and to them, it don't matter who the buyer is.

I just heard that Putin wants to make Turkiye the gas hub of Europe.

Everything became crystal clear now.

The Europe will still buy the Russian gas. Not from Russia directly but from Turkiye... for a higher price.

There are always a third party interference - which can make the things worse for the country and for the rest of the world.
This has happened in Russia Ukraine war

goaldigger

sr. member

Activity: 2422

Merit: 357

Quote from: ?? on ??

Quote from: Gyfts on October 15, 2022, 12:06:37 AM

Well, it's also true that every nation in the world essentially shut down their economy and started printing money so it isn't unsurprising that there isn't a single country spared from inflation.

it's not only the Germany - but the whole world is suffering
during these troublesome days best are those who found out the way and strived to gain financial independence there is no other way out of the inflation but to seek financial independence

There are still some country who are doin well on controlling their inflation rate despite of what happened with them during the pandemic, maybe they planned better and their economy is really that strong. The inflation rate of many countries in Europe continues to increase and that is because of many circumstances, i think the ward between Ukraine and Russia plays a huge role with that inflation, they started to experience worst when they make sanctions against Russia. It will take years before the inflation goes down, but I know Germany can overcome that rate because they are a big country as well.

mindrust

legendary

Activity: 3276

Merit: 2442

Quote from: Don Pedro Dinero on October 16, 2022, 12:25:35 AM

Quote from: Sithara007 on October 15, 2022, 10:17:12 PM

Putin already offered the Europeans that Nord Stream 2 can be used to transport gas from Russia to the EU. And as usual, the EU rejected this proposal due to political considerations. In a way, the Europeans deserve whatever coming to their way. They have constantly voted for warmonger parties such as Greens, who are all in for NATO intervention in Ukraine. On top of that, the Greens are the ones who forced German government to close down a vast majority of the nuclear power plants. If they continue to vote for the Greens, let them spend the winter without heating.

For all our sakes, I hope the war will end sooner rather than later, but it doesn't look like it will. As for EU sanctions against Russia, as I have already said in another thread, I find them pathetic, some even call them 'boomerang sanctions' because you end up the same or worse than the sanctioned country.

I am concerned to some extent about the environment but I also find pathetic the so called green policies that are taken in Europe, being less than 10% of the world's population, and that, between one thing and another, have led to consequences such as this high inflation, mainly due to energy prices.

Sanctions work both ways.

When country A sanctions country B, country A effectively sanctions itself especially if country B has something country A desperately needs.

That's exactly the situation here. What does Russia need from Europe? Nothing. Russia only wants to sell their oil and to them, it don't matter who the buyer is.

I just heard that Putin wants to make Turkiye the gas hub of Europe.

Everything became crystal clear now.

The Europe will still buy the Russian gas. Not from Russia directly but from Turkiye... for a higher price.

Don Pedro Dinero

legendary

Activity: 1358

Merit: 1565

The first decentralized crypto betting platform

Quote from: Sithara007 on October 15, 2022, 10:17:12 PM

Putin already offered the Europeans that Nord Stream 2 can be used to transport gas from Russia to the EU. And as usual, the EU rejected this proposal due to political considerations. In a way, the Europeans deserve whatever coming to their way. They have constantly voted for warmonger parties such as Greens, who are all in for NATO intervention in Ukraine. On top of that, the Greens are the ones who forced German government to close down a vast majority of the nuclear power plants. If they continue to vote for the Greens, let them spend the winter without heating.

For all our sakes, I hope the war will end sooner rather than later, but it doesn't look like it will. As for EU sanctions against Russia, as I have already said in another thread, I find them pathetic, some even call them 'boomerang sanctions' because you end up the same or worse than the sanctioned country.

I am concerned to some extent about the environment but I also find pathetic the so called green policies that are taken in Europe, being less than 10% of the world's population, and that, between one thing and another, have led to consequences such as this high inflation, mainly due to energy prices.

Sithara007

legendary

Activity: 3346

Merit: 1352

Leading Crypto Sports Betting & Casino Platform

Quote from: ?? on ??

Now that the gas delivery to Germany through the Baltic Sea's Nords stream pipeline is halted and which this winter arriving - Germans will be more in trouble.
Let see how they overcome this gas and oil crisis in winter

Putin already offered the Europeans that Nord Stream 2 can be used to transport gas from Russia to the EU. And as usual, the EU rejected this proposal due to political considerations. In a way, the Europeans deserve whatever coming to their way. They have constantly voted for warmonger parties such as Greens, who are all in for NATO intervention in Ukraine. On top of that, the Greens are the ones who forced German government to close down a vast majority of the nuclear power plants. If they continue to vote for the Greens, let them spend the winter without heating.

Gyfts

legendary

Activity: 2828

Merit: 1515

Quote from: ?? on ??

Yet another developed nation and a very similar story again. All this can be directly owed to nothing but COVID. There was a hell lot of fiscal deficit generated by various countries first to fund the vaccines programs and then for distribution of the same. Some countries even gave a lot of freebies to the normal people which has also led to a lot of wasteful expenditure, ultimately someone has to foot the bill for these expenditures, eventually, this is footed by inflating the currency as a whole which leads to currency becoming devaluating the currency.

I agree with you in principle, COVID-19 caused a global inflation crisis unlike seen ever before in recent history -- but the issue with inflation in European countries is based on COVID spending and the energy crisis.

Energy is essentially the blood of an economy. If energy prices go up, the cost to manufacture raw goods increase across the board and you're left with high inflation. It isn't clear, nor is it really possible to calculate what portion of inflation is COVID attributable versus energy cost. You can say that inflation would have reached record rates despite the Ukrainian war, and that the war merely added gasoline to the flames.

Quote from: jaberwock on October 04, 2022, 03:16:11 PM

Quote from: blockman on October 02, 2022, 09:45:19 PM

Too many factors and one strong economy like theirs are also experiencing this much inflation. Isn't there something to do with the war in Ukraine-Russia and oil-related matters?
And all of these combined deterrents have made them, also some other countries that have strong economies experience high inflation rates. This is one hell of a reset and nobody's going to skip it, if there are, they're just a few.

There aren't any, I have been checking world economy for many years in my job now and I can tell you that there isn't a single nation that is not having a hard time, and if Germany does then it is likely that everyone else would too because Germany is the best nation when it comes to making sure economy is doing fine. Of course some nations are doing far worse than Germany, it's clear that everybody is having hard time right now, and some are doing worse while others are doing fine.

In this situation, Germany is still fine, not doing great but compared to many others they are still doing better and that is why we shouldn't take them as base example.

Well, it's also true that every nation in the world essentially shut down their economy and started printing money so it isn't unsurprising that there isn't a single country spared from inflation.

mindrust

legendary

Activity: 3276

Merit: 2442

Quote from: ?? on ??

Quote from: South Park on October 11, 2022, 03:55:41 PM

strategic resource and not every country has it, so even if the politicians leading a country were very diligent on their jobs and they kept a reserve in the case the price skyrocketed, such a reserve is not infinite and at some point it will run out, and then they will have to buy at the new and inflated price, bringing high inflation to their country despite their best efforts to avoid this.

Now that the gas delivery to Germany through the Baltic Sea's Nords stream pipeline is halted and which this winter arriving - Germans will be more in trouble.
Let see how they overcome this gas and oil crisis in winter

I read somewhere that they have "some" gas but it won't be enough for both their industry and to heat up their citizens. So they will have to make a choice. Either their industry will have to stop or their citizens will have to catch cold. I think I know what they are going to choose and it is not the citizens. It make sense tbh. Most people will probably survive (some old folks probably will not) the cold but if the German industry stops, then everybody will get much poorer and more people will suffer.

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: virasisog on October 05, 2022, 11:52:51 AM

Quote from: Sithara007 on October 05, 2022, 07:49:24 AM

Be prepared for even more pain. In less than a month, the mid-term elections in the United States will be done with. And once that is done, the Americans will stop selling crude oil from the SPR, and we can expect Brent crude prices to reach three digits once more. And the Western nations are discussing about imposing a price cap on Russian crude. Russia has threatened to stop exporting crude oil if that happens. And this will result in crude oil prices rocketing to levels never seen before in recorded history.

This will surely result in chaos in the coming days. Each country wants to take full control of its crude supply and if both USA and Russia will hold the oil supply, the price will kick double or triple which simply means that the inflation would rise even more.
Countries should really have strong preparation and find other alternatives to resist the possible worst scenarios. It's better to be prepared than to see our economy fall continuously. The oil supply problem I guess would last longer.

The problem is that not everyone can do something about it, oil is a strategic resource and not every country has it, so even if the politicians leading a country were very diligent on their jobs and they kept a reserve in the case the price skyrocketed, such a reserve is not infinite and at some point it will run out, and then they will have to buy at the new and inflated price, bringing high inflation to their country despite their best efforts to avoid this.

virasisog

hero member

Activity: 1820

Merit: 537

Quote from: Sithara007 on October 05, 2022, 07:49:24 AM

Be prepared for even more pain. In less than a month, the mid-term elections in the United States will be done with. And once that is done, the Americans will stop selling crude oil from the SPR, and we can expect Brent crude prices to reach three digits once more. And the Western nations are discussing about imposing a price cap on Russian crude. Russia has threatened to stop exporting crude oil if that happens. And this will result in crude oil prices rocketing to levels never seen before in recorded history.

This will surely result in chaos in the coming days. Each country wants to take full control of its crude supply and if both USA and Russia will hold the oil supply, the price will kick double or triple which simply means that the inflation would rise even more.
Countries should really have strong preparation and find other alternatives to resist the possible worst scenarios. It's better to be prepared than to see our economy fall continuously. The oil supply problem I guess would last longer.

Sithara007

legendary

Activity: 3346

Merit: 1352

Leading Crypto Sports Betting & Casino Platform

Be prepared for even more pain. In less than a month, the mid-term elections in the United States will be done with. And once that is done, the Americans will stop selling crude oil from the SPR, and we can expect Brent crude prices to reach three digits once more. And the Western nations are discussing about imposing a price cap on Russian crude. Russia has threatened to stop exporting crude oil if that happens. And this will result in crude oil prices rocketing to levels never seen before in recorded history.

$anounimus$

sr. member

Activity: 1610

Merit: 294

www.licx.io

It is no secret that the German people had a difficult time recovering economically after World War II. If inflation reaches 0.25% per month, that is a 12.5% annual rate. And once the EU factors in its own version of QE, it can be bad news for those on regular incomes.

If I am not mistaken, The US is preparing a tight budget which could further affect their economy as well. On the other hand, what they are doing is alleviating the financial crisis they are facing.

Which decision will cause more economic turmoil in Europe, and the world?

Poker Player

legendary

Activity: 1372

Merit: 2017

Quote from: Sithara007 on October 04, 2022, 10:01:09 PM

A lot of people are claiming that the current spike in inflation has more to do with the war between Russia and NATO. That is not the case. If you guys remember, two years ago, most of the countries went on a banknote printing spree giving the excuse of COVID 19 pandemic. The M1 monetary supply in many of the countries incased by as much as 400% in a span of two years. This is mainly responsible for the double digit inflation which we are witnessing right now. The excuse about war and high energy prices is just a tactic to divert our attention.

What you say is not entirely correct. You are partly right, and the rise in inflation started before the war, partly because of massive printing policies and but also partly because of green energy policies.

Quote from: Hydrogen on October 04, 2022, 06:59:39 PM

There's no doubt we have inflation. Does anyone have good ideas of how to address and fix the issue?

Producing energy as if there were no tomorrow.

With abundant and cheap energy, inflation would be at least halved, as energy costs are then passed on in a multitude of goods and services, starting with groceries.

I wait to see what stompix has to say to this, as I think he either lives in Germany or knows very well what is going on over there.

Sithara007

legendary

Activity: 3346

Merit: 1352

Leading Crypto Sports Betting & Casino Platform

A lot of people are claiming that the current spike in inflation has more to do with the war between Russia and NATO. That is not the case. If you guys remember, two years ago, most of the countries went on a banknote printing spree giving the excuse of COVID 19 pandemic. The M1 monetary supply in many of the countries incased by as much as 400% in a span of two years. This is mainly responsible for the double digit inflation which we are witnessing right now. The excuse about war and high energy prices is just a tactic to divert our attention.

Hydrogen

legendary

Activity: 2562

Merit: 1441

There's no doubt we have inflation. Does anyone have good ideas of how to address and fix the issue?

I wonder if there are independent organizations anywhere in the world who work to alleviate these types of economic issues. We have food banks and similar programs to help feed the poor. Charities and non profits.

But I think the scale and scope of those programs is too small to handle the widespread inflation that we're seeing this year. Efforts to address inflation will need to be scaled up and restructured. If standard of living is to be maintained.

There are search engines like ecosia which claim to plant a tree to address climate change for every # number of times their search engine is used. Similar programs to plant food to boost supply and limit inflation might help. But the lag time of farming could be critical. Even with a harvest time of 90 days, there would still be a 3 month lag time.

Ultegra134

hero member

Activity: 1680

Merit: 845

Quote from: ?? on ??

Quote from: hugeblack on October 02, 2022, 04:20:26 AM

Quote from: ?? on ??

Yet another developed nation and a very similar story again. All this can be directly owed to nothing but COVID. There was a hell lot of fiscal deficit generated by various countries first to fund the vaccines programs and then for distribution of the same. Some countries even gave a lot of freebies to the normal people which has also led to a lot of wasteful expenditure, ultimately someone has to foot the bill for these expenditures, eventually, this is footed by inflating the currency as a whole which leads to currency becoming devaluating the currency.

I can understand that COVID-19 and all the economic consequences have contributed to the poor economic situation of many countries, but a strong economy like the German economy needs more than one blow to reach inflation levels of 10%, and therefore it is not logical to blame the pandemic.
What is happening are profound changes in the global economy.

Actually Covid 19 isn't the only issue. It started with COVID 19 then followed by the Russian Ukraine war as well which has led to the increase in energy prices. All this has increased government spending a lot and then obviously how badly companies have been affected by all the things leading to lesser taxes as well all this gives a cascading effect to create more inflation.

That is not entirely true. Gas, CNG, and electricity prices were already on the rise even before the end of summer 2021, due to a mixture of policies to ban coal-fueled plants, which are popular in Europe in an attempt to switch to greener alternatives. Certainly, the Ukrainian-Russian war was the icing on the cake, but honestly, I believe that all this fuel and energy crisis is also, to some degree, pure speculation. Electricity and fuel providers are recording massive profits during the past year, placing a huge burden on consumers throughout Europe.

That's the price you pay when you're dependent on Russia's oil and CNG, along with placing sanctions against a superpower.

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: BIT-BENDER on October 02, 2022, 03:20:09 PM

More sad story about Inflation, top nations are battling the current global inflation now imagine what a third world country is going through right now.
Germany is part of the countries in Europe that have experienced a good economy for a long time, I have always had much respect for the leadership of the country and how policy are made by the government. So if it had gotten to the stage in the country inflation crises then its a matter of time before more policies are made to tackle it. I would love to see a country that tackles inflation without making life more difficult for its citizens. Probably with the global economic meltdown and inflation taking over leaders would look into a more digital currency approach.

This is is going to be difficult since governments do not really have too much room to maneuver, due to the pandemic they had already printed too much money and printing even more is not a good idea, also a great deal of them are heavily indebted as well, the private sector of the economy seems like they are just waiting on the sidelines as this is not the right moment for them to invest, while consumer consumption is down as people are worried about what is happening, so I do not see how inflation can be tackled without affecting significantly the citizens of their nations.

jaberwock

legendary

Activity: 2660

Merit: 1074

Quote from: blockman on October 02, 2022, 09:45:19 PM

Too many factors and one strong economy like theirs are also experiencing this much inflation. Isn't there something to do with the war in Ukraine-Russia and oil-related matters?
And all of these combined deterrents have made them, also some other countries that have strong economies experience high inflation rates. This is one hell of a reset and nobody's going to skip it, if there are, they're just a few.

There aren't any, I have been checking world economy for many years in my job now and I can tell you that there isn't a single nation that is not having a hard time, and if Germany does then it is likely that everyone else would too because Germany is the best nation when it comes to making sure economy is doing fine. Of course some nations are doing far worse than Germany, it's clear that everybody is having hard time right now, and some are doing worse while others are doing fine.

In this situation, Germany is still fine, not doing great but compared to many others they are still doing better and that is why we shouldn't take them as base example.

blockman

hero member

Activity: 3066

Merit: 629

Vave.com - Crypto Casino

Too many factors and one strong economy like theirs are also experiencing this much inflation. Isn't there something to do with the war in Ukraine-Russia and oil-related matters?
And all of these combined deterrents have made them, also some other countries that have strong economies experience high inflation rates. This is one hell of a reset and nobody's going to skip it, if there are, they're just a few.

Topic: Inflation in Germany hits double digits for the first time since WWII (Read 300 times)